AI Deepfake Scam Uses Fake Anthony Bolton Video to Target Investors on Instagram
Image Source:: Youtube
A fraudulent scheme powered by artificial intelligence has surfaced, using a deepfake video of former Fidelity International fund manager Anthony Bolton to deceive retail investors. The 25-second clip, shared on Instagram in early May 2025, falsely portrays Bolton promoting a WhatsApp group offering daily stock tips and investment news. This scam highlights the growing threat of AI-generated forgeries in financial fraud.
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Scam Details
The deepfake video employs AI to replicate Bolton’s voice and appearance, creating a convincing impersonation that urges viewers to join a WhatsApp group for investment advice. Scammers likely used publicly available footage of Bolton, who retired from Fidelity International in 2014, to craft the forgery. Fidelity issued a statement confirming the video is fake and unaffiliated with the firm. The scam aims to exploit Bolton’s reputation to mislead investors, though no specific financial losses have been reported.
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Growing Trend of AI-Powered Fraud
The Bolton deepfake is part of a broader rise in AI-driven scams on platforms like Instagram and Facebook. These schemes use advanced technology to mimic trusted figures, making fraudulent content appear authentic. A 2024 warning from the New York State Attorney General highlighted similar deepfake videos impersonating celebrities and business leaders to promote fake investment schemes. Social media’s rapid reach enables such scams to spread quickly, often challenging platform efforts to remove them.
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Threat to Retail Investors
Retail investors, who may trust familiar figures like Bolton, are prime targets for deepfake scams. The fraudulent WhatsApp group could lure victims into sharing personal information or investing in deceptive schemes. By misusing a respected name, the scam risks eroding confidence in online financial advice and institutions, complicating efforts to distinguish genuine content from fraud.
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Protective Measures
Experts advise verifying investment offers, especially those promoted via social media or messaging apps. Checking official company statements, avoiding unverified groups, and reporting suspicious content to platforms or authorities are essential steps. Tech companies are developing tools to detect deepfakes, and regulators are exploring measures to curb AI misuse, but public vigilance remains crucial.
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Source: The Times, Financial News, Yahoo! News
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